Speaking to journalists during a
joint press conference with German Chancellor Gerhard Schroeder in
Weimar on 10 April, Russian President Putin announced that the two
leaders had solved the problem of the Soviet debt to the German
Democratic Republic RIA-Novosti reported. According to the agreement, Russian debt of 6.5
billion "transit rubles" will be slashed to 500 million euros ($440
million), which Russia will pay over the next three years in cash
installments. Schroeder added that he met Putin's request because
last year Russia began to repay its debts to the Paris Club of
creditor nations ahead of schedule.